Staking SPN benefits Sapien because it shows a powerful sign of the community’s commitment to the vision and mission and it speaks to the robustness of the Sapien token economy
Staking is a process by which you lock your SPN utility tokens within the Sapien ecosystem, which helps lower your Charging and Reward fees from the Sapien platform based on your Stake Rank. These fees are how Sapien collects revenue, as opposed to selling targeted advertising, and we reward staking by lowering these fees because it’s a sign of your commitment to the Sapien ecosystem and an indicator that we will need to process fewer transactions in the future.
To stake SPN, click ‘Wallet’ in the upper-right corner and then click the ‘SPN’ heading. Here you can also see how much SPN you have in your wallet, both staked and unstaked. To stake SPN, enter the amount you’d like to lock in, then click ‘Stake SPN’ and process the transaction via your wallet. The SPN you stake will be drawn from the unstaked SPN in your wallet.
Everyone who stakes SPN within the Sapien ecosystem is ranked by how much SPN in total that they have staked, giving them a Stake Rank, which you can check by clicking on the ‘Rank’ heading within your wallet. Your Stake Rank determines the amount of platform fees you will be assessed for Charging and Rewards.
Sapien takes a nominal fee ranging from 5% to 10% on content Charging for posts and comments. User stakes are linearly mapped to their fee percentage, with the lowest ranked staker having a 10% fee and highest ranked staker having 5% fees. If you stake no SPN, you can still make Charges and you’ll automatically be charged 10%.
Sapien takes a nominal fee ranging from 0% to 5% on content Rewards for posts and comments. User stakes are linearly mapped to their fee percentage, with the lowest ranked staker having a 5% fee and highest ranked staker having 0% fees. If you stake no SPN, you can still receive Rewards, and you’ll automatically be charged 5%.
Staked SPN are locked up for up to a year, with the SPN progressively unlocking over the course of that year with the full amount being made available by the end of the year. To see how much SPN you currently have available, the available amount being a total of both unstaked and unlocked staked SPN, click ‘Wallet’ and go to the ‘Stake’ section under the ‘SPN’ heading. The amount of available SPN is continuously updating over the course of the year since you first staked an SPN amount. You may also request a withdrawal of SPN from your wallet based on the available amount.